In the latest developments regarding the lawsuit involving popular crypto influencer Ben “BitBoy” Armstrong, court filings have revealed that Armstrong has been dismissed from the case. According to the filing, Armstrong’s dismissal is attributed to his failure to serve an answer or motion for summary judgment.
This legal dispute arises from allegations made by former FTX customers against Armstrong, formerly “BitBoy Crypto,” for promoting unregulated securities through the now-bankrupt exchange. They collectively sought over $1 billion in damages and accused other YouTubers of endorsing the business for compensation. Armstrong strongly denied any involvement in promoting FTX.
Despite the legal turmoil surrounding him, Armstrong, who boasted an impressive 1.45 million subscribers on YouTube, appeared unfazed by the proceedings. When ordered to appear in court by U.S. Magistrate Judge Melissa Damian, Armstrong posted a photo on Twitter from the serene Bahamas with the caption: “I am supposed to be in court today. I’m not. Why? Because I don’t give AF.”
Armstrong, formerly known as BitBoy, is allegedly on a new path and does not have to worry about FTX anymore. that is why he has recently unveiled a series of significant changes as he embarks on a fresh start, including his anticipation of the Bitcoin price possibly getting to $200,000.
Armstrong openly shared that his former company, BitBoy, had taken away everything, including his prized Lamborghini. In an effort to rebuild, he extended an invitation to his supporters, promising to guide them on a journey to financial prosperity once more.
In his new YouTube video , Armstong reiterated he will not go under the nickname BitBoy anymore and that the new him comes under his own name – Ben Armstrong. He said he is awaiting the equipment that will help him continue filming videos about crypto-investing.
“We’re not going with high production value obviously. We’re going to be low production value but we’re going to be doing the best that we can to give you guys a quality product. That’s what I always cared about,” he said .
Armstrong revealed there are still some discussions going on with the old team on “potentially having some mediation in a few weeks”, but that at the end of the day, he is ready to fight for the new channel.
“I don’t want to fight for the old one. I’ll fight for the new channel, I’m gonna fight for Ben Armstrong, I’m gonna fight for my name and fight for the family and we’re gonna start doing more crypto videos,” he said .
Looking into crypto, he went on to mention Fed’s Michael Barr, Vice Chair of the Fed for Supervision, who said last week the central bank Fed was very concerned about stablecoins without strong federal oversight because they could pose risks to financial stability, monetary policy, and the payments system.
Armstrong asserted that the stablecoin market is something to definitely pay attention to but added that it’s at its most dangerous when it’s at the bottom. However, he commented he doesn’t see Bitcoin having another larger drop and go to new lows – because that’s something that could get stablecoins into trouble.
“I don’t see that happening, and we’re always getting these stablecoin warnings. We give them all the time, but the fact is that these stablecoins aren’t really going to be something that I feel like are going to break the market by any stretch of the imagination,” he affirmed.
“Did you see what happened when USDC unpegged? It re-pegged very quickly. They are constantly saying that Tether is going to blow up. It’s still live, and it’s still kicking – kind of like me,” he stated .
Armstrong mentioned Grayscale Bitcoin ETF, calling it a “big issue” and adding he expects it to get t approved “very soon”. When this happens, Armstrong claims, “ETF is going to kick off the bull run” and “it will make the price go up the way that we can have a Bitcoin super cycle. And we can see the price go up, higher than we expect. We get a six-figure Bitcoin – a $200,000,” he said.
Armstrong then echoed Adam Back’s prediction of Bitcoin rising up to $100,000.
“Bitcoin Adam Back believes we might get a hundred thousand dollar Bitcoin. The only way that occurs is with the spot ETF being approved, so it is definitely something to really, really, really watch,” he stated.
He repeated how he has been predicting the crypto market for a long time.
“I have been predicting the market for a long time, and one of the things that I have said all year, and I said last year in May, that the bottom would be in November.
We would start things going back up in the fourth quarter of this year and then by December of next year we should have new all-time highs for Bitcoin. That doesn’t mean like $700,000 Bitcoin. It means just past 70K. There are scenarios where it could occur before that and those are obviously some bullish scenarios that we want to see, “ he concluded .